NZDJPY Down 2 Pips On Hourly Chart; Moves Up For the 4th Straight Day

Hourly Update

(Last Updated April 29, 2021 2:22 GMT)

At the time of this writing, NZDJPY’s rate is down -170 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

NZDJPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZDJPY is up 51 pips (0.65%) since the previous day (opening today near 78.86188053), marking the 4th straight day it has gone up. Compared to its peers in the Forex, NZDJPY gave its buyers a return that ranked 3rd in terms of percentage change since the previous day. Let’s take a look at price chart of NZDJPY.

NZDJPY

NZDJPY Technical Analysis

The first thing we should note is that NZDJPY is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days NZDJPY’s price has gone up 17 them.